Handymen/handypeople who do it all need coverage that protects them from risks that they may be exposed to on the job. You’re painting one day and cleaning gutters the next. Make sure to get a package of coverage that is as broad as the list of things you do:
(Note that handypeople who are not licensed electricians cannot legally carry out electrical work, and so cannot be insured for this kind of work.)
Despite your vigilance when it comes to upholding the most meticulous quality and safety standards, there is always a chance a customer or third party could sue you if they think that the job you have done has resulted in injury or property damage. Liability insurance can help protect you from lawsuits that could otherwise cost your business tens of thousands of dollars. Insurance can also help protect your vehicles, tools and other property as a handyman.
You face different exposures than other contracting businesses. When you are shopping around for handyman insurance, consider the following:
Whatever the particulars of your business, we have a package of insurance to suit your needs.
In Ontario, handyman work can be rather competitive. Stand out by getting commercial general liability coverage, and showing potential clients that they are protected from any damage or injury you might accidentally cause while on the job. In some cases, especially if you’re looking for work as a subcontractor, CGL may be a requirement.
Look, we know that a lot of handymen use their own van or pickup as their work vehicle. If that’s you, hey, we understand if you just want to keep your truck insured as your personal vehicle. You should be aware, though, that there are a number of situations that could come up that might leave you exposed to major losses. For instance, if you told your personal auto insurer that you don’t use your vehicle for work, but it has a company logo, website or phone number listed on the door, that could void your insurance if you get in an accident. Same thing could happen if your tools are stolen from the vehicle.
At a minimum, you need to let your personal auto insurer know that you use the vehicle for work. There’s usually very little difference in price between personal and commercial use, if any. Your best bet is to at least get a quote on commercial auto insurance. In some cases, it might even be cheaper than what you’re paying for your personal auto insurance…plus you’ll sleep better knowing you’re properly insured.
Most handyman businesses don’t have a physical location, but that doesn’t necessarily mean that you don’t need property insurance. Tools and equipment insurance is a type of property insurance that you’ll find essential. Also, if you’re managing your business from home, you’ll want to tell your home insurer about it. It may not cost any more, but if you keep business-related supplies like paint, flooring etc. at your home, those won’t be covered by a typical home insurance policy.
As a handyperson, you rely on the tools and equipment you use every day to get the job done. Hammers, drills, ladders, levels, power saws, blowers, workbenches and more. If they were stolen or lost in a fire, you wouldn’t be able to do your work. Tools and equipment insurance not only will replace your essential tools if they’re lost, it will even pay for rentals so you can keep working while your claim is underway.
You may have heard about cyber insurance, and you may have said to yourself, my business isn’t a cyber business, I don’t need cyber insurance. Well, if you have a website, if you have a social media presence, or if you keep sensitive client information on a computer or in the cloud, then you need cyber insurance to protect you in the event that customer data becomes exposed to online fraudsters, or if someone decides to sue your business for something you did or said online.
Most handyman businesses would have an insurance package that covers the following:
Depending on several factors, the cost of handyman insurance in Ontario can start as low as $67 a month. The following factors can affect the price:
If cost is a concern, you may be able to reduce your premiums by opting for lower limits and increasing your deductible.
ools and equipment insurance is part of most handyman policies, and can pay to replace your tools if they are lost, damaged, destroyed, or stolen.
If you are a handyman working as a subcontractor, the main contractor will almost always ask to see proof of insurance. Usually you’ll need at least $1 million in CGL coverage.
If you have a truck that you use to haul tools, supplies and equipment back and forth to job sites, or if you have commercial signage on the vehicle, even if it’s not owned by the business, then you should have commercial auto insurance on that vehicle as part of your package.